Shilpa Shetty, Raj Kundra 'diverted funds' in ₹60cr scam?
What's the story
The Economic Offences Wing (EOW) of the Mumbai Police has reportedly uncovered evidence suggesting that Bollywood star Shilpa Shetty Kundra and her businessman husband, Raj Kundra, diverted funds in a ₹60 crore fraud case filed by a non-banking financial company (NBFC) back in 2015, according to India Today TV. The EOW now plans to hire an independent third-party consultant to conduct a forensic audit and track exactly how the money was used and where it went.
Investigation details
Forensic audit to trace fund misappropriation
EOW officials have reportedly discovered that funds borrowed from businessman Deepak Kothari's NBFC for their company, Best Deal TV Pvt Ltd, were diverted and embezzled through related entities. The upcoming audit will investigate whether the money was funneled to other companies allegedly connected to the Bollywood couple, including Satyug Gold, Essential Bulk Commodities Pvt Ltd, Viaan Industries, and Statement Media.
Financial irregularities
Discrepancies found in fund flow
The EOW has also found discrepancies in the fund flow. Despite being a majority shareholder, Shetty Kundra allegedly charged a ₹15 crore celebrity fee for endorsing Best Deal TV, shown as company expenditure. Earlier, Kundra was reportedly questioned for nearly five hours and told investigators that the ₹60 crore was initially taken as a loan but was later converted into equity.
Claim verification
Kundra claims funds used for celebrity endorsements
Kundra claimed that ₹20 crore was spent on celebrity endorsements, broadcasting fees, and other promotional expenses. He named actors Neha Dhupia and Bipasha Basu among those paid for brand promotions and provided photographs as proof. However, the EOW is verifying these claims. Kundra also said that promotional material and videos featuring other celebrities were previously seized by the Cyber Crime Cell during the pornography case probe, another claim the EOW has yet to verify.